Welcome to our dedicated page for Hess Midstream LP news (Ticker: HESM), a resource for investors and traders seeking the latest updates and insights on Hess Midstream LP stock.
Hess Midstream LP Class A Share (symbol: HESM) represents a limited partner interest in a company that focuses on processing natural gas and fractionating natural gas liquids (NGLs) in the United States. Founded in 2014 and headquartered in Houston, Texas, Hess Midstream Partners LP operates under its general partner, Hess Midstream Partners GP LLC.
The company operates through three primary segments:
- Gathering: This segment includes natural gas gathering and compression, crude oil gathering, and produced water gathering and disposal. It forms the backbone of the company's operations, contributing the majority of its revenue.
- Processing and Storage: Hess Midstream processes natural gas and stores NGLs, ensuring efficient and safe handling of these valuable resources.
- Terminaling and Exporting: This segment focuses on terminaling and loading crude oil and NGLs, transporting crude oil through rail cars, and storing and terminaling propane.
Hess Midstream LP’s core business is to own, operate, develop, and acquire a diverse set of midstream assets, providing fee-based services to Hess Corporation and third-party customers. The company has made significant strides in its recent projects, including the development of new infrastructure to enhance its capacity and efficiency. Financially, Hess Midstream has shown a solid performance with consistent revenue generation from its gathering segment.
Partnerships play a crucial role in Hess Midstream's operations. The company's strategic alliances enable it to expand its service offerings and optimize operational efficiencies. By leveraging these partnerships, Hess Midstream continues to provide high-quality, reliable services to its clients.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the EIC Investor Conference on May 19-20, 2021. An investor presentation is available in the Investors section of Hess Midstream's website.
Hess Midstream operates a range of fee-based midstream assets, primarily serving the Bakken and Three Forks Shale plays in North Dakota, focusing on oil, gas, and produced water handling.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the Citi Global Energy and Utilities Conference on May 12, 2021. A presentation will be accessible in the Investors section of Hess Midstream's website. The company is a fee-based, growth-oriented midstream entity, providing services primarily within the Bakken and Three Forks Shale plays in North Dakota. For further details, visit www.hessmidstream.com.
Hess Midstream (NYSE: HESM) reported a first quarter 2021 net income of $159.6 million, up from $129.0 million in Q1 2020. After noncontrolling interests, net income attributable to Hess Midstream was $8.6 million, or $0.45 per Class A share. The company generated Adjusted EBITDA of $226.7 million with Distributable Cash Flow of $204.6 million. Revenues decreased slightly to $288.8 million compared to the prior year. Operationally, throughput volumes for crude oil terminaling and gathering fell by 23% and 22%, respectively, due to reduced drilling activity and severe weather effects.
Hess Midstream LP (NYSE: HESM) declared a quarterly cash distribution of $0.4526 per Class A share for Q1 2021. This reflects a 1.2% increase from the previous quarter, translating to a 5% annual growth. The distribution will be payable on May 13, 2021 to shareholders on record as of May 3, 2021. Hess Midstream focuses on providing fee-based services through its diverse midstream assets in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) will conduct a conference call on April 28, 2021, at 12:00 p.m. ET to discuss its first quarter 2021 earnings. Participants can dial in or access a webcast available on Hess Midstream's website. A replay of the call will be available until May 13, 2021. Hess Midstream specializes in fee-based midstream services, focusing on oil, gas, and produced water handling assets, primarily in North Dakota's Bakken and Three Forks Shale plays. Further details can be found on their official website.
Hess Midstream (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors on March 24, 2021, at the Scotia Howard Weil Energy Conference. The company has released a presentation available in the 'Investors' section of its website. Hess Midstream focuses on providing fee-based midstream services, owning and operating assets primarily in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) announced the pricing of a public offering of 6,000,000 Class A shares at $21.00 each, aiming for gross proceeds of approximately $126 million. The offering, set to close on March 15, 2021, is conducted by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners. HESM will not receive proceeds from this sale. Additionally, underwriters have a 30-day option to purchase 900,000 more shares. The company specializes in midstream services, focusing on oil and gas assets in North Dakota's Bakken and Three Forks Shale plays.
Hess Midstream LP (NYSE: HESM) announced an underwritten public offering of 6,000,000 Class A shares by Hess Corporation and an affiliate of Global Infrastructure Partners. The underwriters have a 30-day option to purchase an additional 900,000 shares. HESM will not receive any proceeds from this offering. Goldman Sachs & Co. LLC and Citigroup are the joint bookrunning managers. The offering is made under a previously filed effective shelf registration statement with the SEC. This release does not constitute an offer or solicitation for the securities.
Hess Midstream LP (NYSE: HESM) filed its annual report on Form 10-K with the SEC for the fiscal year ending December 31, 2020, on February 22, 2021. The report is accessible on Hess Midstream’s website under the “Investors” section. Shareholders can request printed copies of the report, which includes complete audited financial statements, via email.
As a fee-based, growth-oriented midstream company, Hess Midstream operates diverse assets providing services primarily in North Dakota's Bakken and Three Forks Shale plays.
Hess Midstream LP (NYSE: HESM) has announced that its Chief Financial Officer Jonathan Stein and Vice President of Investor Relations Jennifer Gordon will engage with investors on February 24, 2021, at the Barclays Midstream and Clean Infrastructure Corporate Access Day. A detailed presentation is scheduled to be available on the Hess Midstream website. The company specializes in fee-based midstream services primarily in the Bakken and Three Forks Shale plays in North Dakota.
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